The recent Demonetization movement by the Indian government is pushing forward the Unified Payment Interface (UPI), the system launched by the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI). The UPI facilitates easy payment between peer-to-peer and peer-to-entity.
The users just have to create a virtual payment address and link it to their bank account. The user may download UPI app of any bank and use with other banks account too. The transfer of money is as easy as sending a message, as there is no need of filling the details of the beneficiary's account or their own account details.
Content Source: http://www.orangemantra.com/blog/the-use-of-upi-android-app-surges-post-demonetization
